EURGBP COMPLETION OF ELLIOT WAVE AT SWING POINT AND D1 20SMA
SIMPLE SWING POINT/ SUPPORT RESISTANCE PLAY.
CONFLUENCE:
D1 20SMA
CURRENTLY MEETING RESISTANCE AT PREVIOUS SWING POINT.
COMPLETION OF ELLIOT CORRECTION WAVE.
NOTE: EVEN THOUGH PRICE IS TRADING ABOVE H4 20SMA 50SMA. ON THE D1 LEVEL, PRICE IS REJECTED FROM D1 20SMA. PROVING SOME RESISTANCE.
EXIT TRADE IF SUCCESSFULLY CLOSE ABOVE 0.73 ON THE H4 LEVEL.
THIS TRADE HAS ENOUGH CONFLUENCE TO MAKE ME "SELL NOW" WITHOUT FURTHER NEED OF ANY BEARISH CONFIRMATION.
CONFLUENCE:
D1 20SMA
CURRENTLY MEETING RESISTANCE AT PREVIOUS SWING POINT.
COMPLETION OF ELLIOT CORRECTION WAVE.
NOTE: EVEN THOUGH PRICE IS TRADING ABOVE H4 20SMA 50SMA. ON THE D1 LEVEL, PRICE IS REJECTED FROM D1 20SMA. PROVING SOME RESISTANCE.
EXIT TRADE IF SUCCESSFULLY CLOSE ABOVE 0.73 ON THE H4 LEVEL.
THIS TRADE HAS ENOUGH CONFLUENCE TO MAKE ME "SELL NOW" WITHOUT FURTHER NEED OF ANY BEARISH CONFIRMATION.